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Stocks End Sharply Lower,
As Shanghai Slumps 4.5%

For the second time in two months, a drop in Chinese stock prices rattled markets across Asia on Thursday &ndash; and threatened to undercut prices in Europe and the U.S. as well.

The Shanghai Composite Index buckled 7% before finishing with a 4.5% loss at 3449.02. The falls followed a sharp run up in Chinese stock prices since mid-2005. The benchmark index retains a 29% rise for the year after a surge of individual investor interest.